Consolidation, Ownership Structure and Efficiency in the Italian Banking System

Marcello Messori

Chapter Chapter 9 in The Banks and the Italian Economy, 2009, pp 211-243 from Springer

Abstract: Abstract The paper refers to the processes of consolidation and privatization occurred in the Italian financial market during the nineties, in order to analyze their possible effects on efficiency, competition, and ownership reallocation of the banking system. The main results are that these two processes were accompanied by gains in the efficiency and competitiveness of the Italian market for traditional banking services, but they were unable to offset the drawbacks in the financial services offered to households and in the ownership structure of Italy's largest and medium-sized banking groups. In this last respect, the paper shows that banks mergers and acquisitions and privatization tightened the mesh of cross-shareholdings, and placed at the center of the consequent spiderweb of ownership a small number of major shareholders dominated by a peculiar nonmarket institution – that is, the Italian bank-derived foundations

Keywords: Total Asset; Ownership Structure; Asset Management; Herfindahl Index; Banking Group (search for similar items in EconPapers)
Date: 2009
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Journal Article: Consolidation, ownership structure and efficiency in the Italian banking system (2002)
Journal Article: Consolidation, ownership structure and efficiency in the Italian banking system (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-7908-2112-3_10

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DOI: 10.1007/978-3-7908-2112-3_10

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